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Waverly, Iowa-based First National Bank's president/CEO to retire

President and CEO Rich Carlson of Waverly, Iowa-based First National Bank is set to retire, effective March 2, according to communitynewspapergroup.com.

A new leadership team will be in place on March 5, with Susan Whitson and Steve Willemssen serving as CEO and president, respectively. Whitson will oversee financial services and risk management for the bank and management of its parent First of Waverly Corp.

Whitson's most recent position at the bank has been as CFO. Willemssen has been with the bank for the last 25 years, most recently as executive vice president and senior business banker.